Hey IMROMO, I just got mine today... I will try and send you an answer to your 2 questions this evening. I truly hope it has an FM transmitter. When I did my research before purchasing, I could have sworn I read that it DID have one.... now upon first glance of the manual, i see no mention of a transmitter!....

Major Review Alert:

ok technical stuff first...opened it, plugged it in, went to settings and turned the backlight to go off after 1 minute (default is always on), then found and shut off auto record (read some people had issues with this feature deleting saved content)update:it doesn't delete saved content but rather the schedule to record content...and i don't think it mattered because I lost a schedule anyway, now I don't use the schedule feature for setting up reocurring recordings...i just use the menu to view programs and record that way, and the view program menu goes out several days), then signed up online and used coupon code XMSCION03 for free activation, after a few minutes the channels were loaded, I set up my stocks to scroll, change the ear buds to the smaller ones, messed with the eq (settled on Rock) now i use bass boost, be sure the buds are firmly in your ear and they have fantastic response...oh, and then downloaded the Firmware update.

Now the Fun stuff...Let me first list the uses I had in mind for this product and the result so far..

LOCATIONS:
1. Listen in my North Facing Bedroom undocked without the external antennae.
Result: Excellent. The built in antennae is direction sensitive, but it definitely works with near full bars from the satellite with the signal either coming through the roof or through up to 3 walls and the roof whichever direction the signal is coming through. This is probably my favorite by far. I can lay in bed and read while listening without the unit docked and that rules! Probably my biggest fear was that I couldn't do this and the recorded content was going to be my fallback, but no worries it works indoors, in a north bedroom!

2. Listen in the yard while doing yardwork.
Result:from the satellite it is Iffy. My first attempt proved that it is sensitive to being in a pocket when I'm moving around and my body blocks the satellites. I haven't put it to full use to know for sure, but it does seem possible to have it in a pocket. It cuts in and out a little but was not too bothersome. It seems that if it were on an armband or hip case that it may help. I walked around the North part of the yard and it picked up a signal as long as I was 10'+ away from the North wall. I think this product will suit my needs just fine if for some reason I can't get a signal I will have 100 hours of recorded content to switch to.

3. Listen in the Car.
Result: Not tested. This won't be any problem at all because I also purchased the car kit which will have an antennae on the roof. Will need to test the FM transmitter and report back. update: After running everything properly the transmitter does me just fine, although sometimes it get a little static. A direct line would be best.
4. Walking around the house.
Result: Ok. If I were switching rooms to go sit somewhere else it does pick up the signal but there are cutouts as I pass thicker parts of the house (perpendicular walls) although it does pick up the signal throughout the house for the most part, cool.

5. Bike rides...or fishing...outdoor events:
Result: Excellent. As long as im in view of the southern sky the built in antennae performs excellently.

Con Notes:
a. Con: It does not seem to restart on a "channel" record session (this is simply hitting record, then choosing length of time) if it loses the signal and then gets it back. I have read that a "scheduled" record will pick back up when the signal is obtained again but i have not tested it.
b. Con: It doesn't start from where you left off in a recording (XM please fix this with a firmware update!) not a biggie though because the recordings seem to section themselves into songs or "scenes" of the show recorded, also holding fast forward progressively gets faster and faster to quickly flip through minutes at a time.

Wow kick Ass Notes:
1. Wow Kick Ass: I chose to record 4 channels at one time while listening to another channel. So in 10 minutes I have 40 minutes of content...1 hour = 4 hours, and 5 hours if I record the channel im listening to....Wow kick ass.
2. Wow Kick Ass: If I hit rewind while listening to live XM it kicks into "replay" mode and I can rewind the currently playing channel BUT....see next
3. Wow Kick Ass: After hitting the rewind button while listening to live xm it enters "replay mode" (shows at the top of the screen) I can then rotate the dial and choose any of the content of the most recently listened to channels
4. Wow Kick ass: I just hit pause on a song I wanted to hear but I had to leave for a few minutes....and there it is waiting for me.
5. Wow Kick ass: I set it up to scroll my stocks, nice!
6. Wow Kick ass: ok, too many to keep going....heres some more,
7 I can set up to record shows that are 4 days away!,
8 the screen is bright and clear and color,
9 It shows the time,
10 scrolling through channels shows the songs playing on that channel,
11 while flipping through channels it shows in red "recording" if your recording that channel.
12 I can listen in the car, in bed, in the living room, in the yard all with live or recorded content, and I don't get any repeater bars, all satellite. (but yes it does cut out a bit when walking around, see LOCATIONS above for more info)

All I can say is I wish I could listen to all of the channels at once!

I recorded 40 hours of content while i was sleeping...5 channels x 8 hours. sweet.

Been listening at work with my better headphones...my better headphones...sound better than the ones that came with it. update:i don't know if the headphones needed a break in period or what but they sound great now, I listen to classical music at night and the sound is phenominal.
Been listening to recorded content for 1 hour and the first bar came off the battery life (not plugged in) I'll update how long it takes to go dead...I figure i can always bring the homedock, although i bet it makes it most of the day, being off and on. update:I have listened to recorded content for 8 hours without a problem

My main concern is going to the gym and having to listen to recorded music. But really not a biggie if the reception is iffy!

If you set it on your nightstand like i do, you can record 40 hours of content while you sleep (in 8 hours, 5 channels at once), all new to you when you wake up.

Originally Posted by just sirius

I am buying a new car this week, it will have a MP3 jack...can XMP3 plug into that jack, or will I need a car kit?!

AFAIK, the jack is just a headphone jack on both ends, one into the xmp3 the other into the cars radio. This would be sufficient. The car kit does have a cigarrette lighter power supply and an external antannae which may be needed to pick up a signal in the car.

Originally Posted by just sirius

I am considering either an XMP3 or OEM install. Portable has many more uses.

The portable for me is amazing. I dock it at home and record content or listen live. Then I undock it and dock it in my truck and listen live. Then I undock it and go into work and listen to the previous nights recorded shows....simply awesome!